Energy Vault, NTPC sign MoU for gravity-based energy storage

India’s largest power generating utility NTPC Limited is looking to deploy Switzerland-based Energy Vault’s EVx gravity-based energy storage technology and software solutions to support its clean energy transition. A memorandum of understanding (MoU) forging a long-term strategic partnership between the two parties was signed recently.

NTPC will deploy Energy Vault’s EVx gravity-based energy storage technology and software solutions based on the outcome of a joint feasibility study with Energy Vault.

Energy Vault’s EVx storage system is comparable to pumped hydro, using grid-scale renewable energy when supply is abundant to drive motors and raise 30-ton blocks on a six-arm crane tower, rather than water, up to a height. When power needs to be discharged back to the grid, the blocks are lowered, harvesting the kinetic energy.

According to the company, there is zero degradation in the storage capacity of the composite blocks, which can remain in the raised position for unlimited periods of time.

The NTPC and Energy Vault collaboration will also see the beneficial utilization of coal ash to manufacture composite blocks for Energy Vault’s gravity-based energy storage system, promoting a circular economy.

Robert Piconi, chairman, co-founder, and CEO of Energy Vault, said, “Energy Vault’s mission is to make sustainable, carbon-free energy a reality, and this announcement marks further advancement towards that goal with the expansion into one of the largest global markets for energy. Our collaboration with NTPC builds upon previously announced commercial expansions across multiple continents as we transitioned to a public company earlier this year.”

Gurdeep Singh, chairman and managing director of NTPC, said, “As a large, integrated power producer, it is critical for NTPC to have a diverse clean energy portfolio to decarbonize India’s economy. We have enhanced our renewable capacity addition targets to spearhead India’s energy transition goals, and we are focusing on solar, wind, RTC (round-the-clock), and hybrid projects to achieve the targets. The collaboration with Energy Vault will help NTPC further its energy transition goals through a sustainable approach by way of utilizing coal ash for manufacturing of composite blocks. Accordingly, this collaboration will also promote a circular economy.”